This amount, unprecedented in the French fintech ecosystem and one of the largest funding rounds ever recorded in French history, brings Qonto’s valuation to €4.4 billion. With this new fundraising, Qonto’s ambition is to become the finance solution of choice for 1 million European SMEs and freelancers by 2025.
Alven led Qonto’s €1.6 m seed round in 2017. The latest round is jointly led by new investors Tiger Global, and TCV, in addition to eight other new contributors: Alkeon, Eurazeo, KKR, Insight Partners, Exor Seeds, Guillaume Pousaz, Gaingels and Ashley Flucas. The historic investors: Alven, Valar, DST Global, and Tencent are all renewing their support by participating in this new funding round.
“This new Series D funding round is an amazing opportunity for us to accelerate our hyper-growth trajectory by investing in our product, our customer service and our power to attract new talents. This funding round reveals the incredible dynamism of the French and European Tech ecosystem.” explains Alexandre Prot, co-founder and CEO of Qonto.
Qonto currently holds 220,000 clients across four markets (France, Germany, Italy, and Spain) and plans to grow its market penetration across Germany, Italy and Spain and new markets and continue to expand its product offer through in-house development, new strategic partnerships and potential acquisitions. In 2025, it is expected that 75% of new clients will come from outside France. They also have strong recruiting ambitions with the goal of quadrupling the team to more than 2,000 by 2025 including 50% of new hires to be based outside of France. The company will launch a European “Qonto Campus” program to enable international mobility between the local offices and reinforce its international recruitment strategy.
Key information about the company:
- €620M raised
- 220,000 customers across Europe
- More than 500 employees from +50 different nationalities
- Operating in 4 countries